Item 4.01 Changes in Registrant's Certifying Accountant.
On January 1, 2021, the audit practice of Hall & Company Certified Public
Accountants and Consultants, Inc. ("Hall"), an independent registered public
accounting firm, was combined with Macias Gini & O'Connell ("MGO") in a
transaction pursuant to which Hall combined its operations with MGO, and certain
members of Hall joined MGO either as employees or partners of MGO. On January 7,
2021, Hall resigned as auditors of IHT (the "Company"), and with the approval of
the Audit Committee of the Company's Board of Directors, MGO was engaged as the
Company's independent registered public accounting firm.
Prior to engaging MGO, the Company did not consult with MGO regarding the
application of accounting principles to a specific completed or proposed
transaction or regarding the type of audit opinions that might be rendered by
MGO on the Company's financial statements, and MGO did not provide any written
or oral advice that was an important factor considered by the Company in
reaching a decision as to any such accounting, auditing or financial reporting
issue.
The Report of Independent Registered Public Accounting Firm of Hall regarding
the Company's financial statements for the fiscal years ended January 31, 2019
and January 31, 2020 did not contain any adverse opinion or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope or
accounting principles.
During the fiscal years ended January 31, 2020 and 2019 and during the interim
period from the end of the most recently completed fiscal year through January
7, 2021, the date of resignation, there were no disagreements with Hall on any
matter of accounting principles or practices, financial statement disclosure or
auditing scope or procedures, which disagreements, if not resolved to the
satisfaction of Hall, would have caused Hall to make reference to such
disagreement in its report.
The Company provided Hall with a copy of this Current Report on Form 8-K prior
to its filing with the U.S. Securities and Exchange Commission (the "SEC") and
requested that Hall furnish the Company with a letter addressed to the SEC
stating whether it agrees with the above statements and, if it does not agree,
the respects in which it does not agree. A copy of the letter, dated January 7,
2021, is filed as Exhibit 16.1 (which is incorporated by reference herein) to
this Current Report on Form 8-K.
In 2019, Inn Suites Hospitality Trust (IHT) made a $1 million diversification
investment in Unigen Power Inc. (UPI). This high- profit potential business
reports that it is generally progressing with (development of its new
technology) on budget and on time.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibits are filed herewith:
Exhibit
Number Description
16.1 Letter from Hall & Company Certified Public Accountants and
Consultants, Inc. dated January 7, 2021 regarding change in independent
registered public accounting firm.
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